It is my understanding that I have to wait four years to get title insurance. 

I'm actually grateful for all the crap that has gone wrong now, because with experience, you learn you can get through it, and move forward.Think about it like this.. in 5 years, will you be happy you waited, or happy you got the guts and did it?     

If you buy @ @ 250 and renovate your good but if you buy at 350-400k you going to be waiting a long time for any appreciation.

I'd also wait to see what Amazon is doing.

We routinely purchase homes in the 40-50k range that need minimal repairs.

If it hits DebtX, buyers should pool money to make a run at the action versus waiting for the downstream.

It sounds like someone would have to wait for the property to go to tax-deed auction?

TIA.If you want this house (that's the first question) and it has some cosmetic deficiencies and it's in a great neighborhood, I would offer him a lower sales price (like 30% lower if that's more in line with what the property will appraise for), take his financing if:there is no prepayment penalty and it's 100% financing the cash flow is acceptableand then refinance it with a lower rate product with no seasoning on title or wait out the conventional seasoning period and refinance it with a Fannie Mae loan. 

this can be done with a minimal of expense.. now you have ownership then you can decide if you want to refi or what have you down the track.get the home in your name  rent it then worry about financing when your ready.

However I realize that in these markets, profit per unit is so minimal that even a short vacancy can turn into a negative cashflow situation.Here is an example, please let me know if I am missing something;Assumptions:  Purchase price: $100k.